Assume that interest is the only finance charge what is the, Financial Management

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Assume that interest is the only finance charge what is the

Assume that interest is the only finance charge. Use financial calculator to answer the questions.

a) How much interest would be paid on a $6,000 installment loan to be repaid in 60 monthly installments of $133.50? Round the answer to 4 decimal places. _____% per month

b) What is the APR on this loan? Round the answer to 2 decimal places. ____ %

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Financial Management: Assume that interest is the only finance charge what is the

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